Tuesday, April 18, 2017

Further fall expected

The Tokyo Commodity Exchange futures, which set the tone for rubber prices, erased early gains in part after the bourse urged investors to settle contracts well before expiry on 24th April. Tokyo rubber futures hit a five-month low, as it came under pressure from heavy selling. Tocom rubber contract for September delivery finished closed at ¥212.9 per kg, its lowest close since 18th November.

The benchmark RSS4 grade rubber closed at `.141 a kg at Kottayam, while RSS3 grade closed at `.143.22 a kg at Bangkok and Malaysian SMR20 closed at `.102.40 a kg. On National Multi Commodity Exchange futures series closed for May 2017 closed at `.137.16 a kg, June at `.140.23 and July at `.142.34 a kg. Tokyo Commodity Exchange April 2017 futures series closed at ¥246.5 a kg, May at ¥239.9, June at ¥226, July at ¥219.7, August at ¥215.6,  and the contract for delivery in September closed at ¥212.9 a kg. On Wednesday, most probably Tocom futures contract for delivery in September 2017 may trade in the range of ¥201 & ¥210 a kg.

To read Rubber4U – 1st May 2017 issue: http://rubber4u.com/Public/Abcd.pdf
For 2016-17 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf